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Miso Robotics Investor Webinar July 29, 2026 — Transcript

by Miso Robotics · 11,600 words · 1,624 segments · language en · Watch on YouTube

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0:03Welcome everyone to what is most likely
0:06the last investor webinar we'll have
0:08this summer. Man, this um the summer's
0:11really gone quickly. It's uh it's
0:13surprising to me that we're already at
0:14the end of it. That means here in LA
0:16that the weather is probably hotter now
0:19than it's going to be all year. It means
0:21that we're getting kids off to school.
0:23It means that Flippy is even getting
0:26ready for his first semester of college.
0:29More on that later. Uh, I'm Jeremy
0:31Spring. I'm MISO's chief of staff. I
0:34also manage the investor relations team
0:36at MISO. And joining me, of course, is
0:38MISO CEO Rich Hole. If you have
0:42questions about your investment or the
0:44investment opportunity overall, please
0:46do email us at invest miso robotics.com.
0:50You can also call our investor relations
0:52team. That number is 8337733457.
0:58And then of course this and a wealth of
1:00information is available to you on our
1:03invest website and that address is
1:05invest.m miso robotics.com.
1:09Over the next hour, Rich and I are going
1:12to be digging into a business update
1:14which will be followed by a live Q&A. So
1:16please do feel free to populate the chat
1:19box with whatever questions you want us
1:21to address in that live Q&A. We'll do
1:23our very best to get to all of those,
1:25but I certainly am not making any
1:27promises about that.
1:29As a reminder, we are currently in uh
1:33funding round uh giving investors access
1:36to a preIPO investment opportunity in a
1:40company that's private. Uh for attending
1:43this webinar, you'll be awarded a 2%
1:45bonus share. Whether you're a return
1:47investor or a new investor, everyone
1:50just by attending this webinar gets a 2%
1:53bonus share when you complete your
1:55investment. Um, if you're a return if
1:58you're a returning investor, that is
2:00stackable on top of a 5% bonus share. So
2:02up to 7% bonus shares for attending this
2:05webinar as a returning investor. Uh,
2:08that's all I've got to cover for the
2:10beginning, but I'm gonna hand it over to
2:11Miso CEO Rich Hole. Take it away, Rich.
2:15>> Awesome. Thanks, Jeremy. Appreciate it.
2:17So, uh, welcome everybody and as Jeremy
2:20said, happy almost into the summer.
2:23We've been really busy at MISO as we've
2:25wrapped up the first half of the year.
2:27I'm going to send out a very detailed
2:30shareholder update uh in the next few
2:32weeks and we'll kind of recap that first
2:34half of the year for you. So, you can
2:36for those who care about those types of
2:38details, you can you can look for that
2:40soon. Um, you know, I'll give kind of my
2:42usual preamble here, which is to just
2:44point out that since I've been here at
2:46MISA, which has been been about three
2:48years, we really lean into the
2:50communication aspect of what we do. And
2:53the, you know, public communication with
2:55our shareholders is really important to
2:57me. And so I come from a media
2:59background and so it's sort of in my
3:01DNA. And so I think that it's one of the
3:03things that we've really focused on here
3:04is to um is to communicate with you in a
3:07bunch of different ways so that people
3:10who want to communicate in certain ways
3:12get it and uh and can tune out the ones
3:14that they don't. So for instance, this
3:16webinar is one of those ways that we do
3:18that and we as Jeremy mentioned, we take
3:20your live questions and so you can put
3:22those in the chat window. Um, we, uh, we
3:26also send out, you know, emails every
3:28week or so, uh, sometimes a couple times
3:30a week with company milestones, so you
3:32can follow along with those. We, um, do
3:35the detailed shareholder updates at
3:37least once a year, sometimes twice if
3:39we've got a lot going on like this year.
3:41We, uh, do in-person events with our
3:44investors. So, recently uh, in May, we
3:46went to the National Restaurant
3:47Association show in Chicago and we
3:49invited any repeat investor that lived
3:51within the Chicago area to come and see
3:53us. and a bunch of you did and it was
3:54really amazing and we had so much fun
3:56getting to know you and seeing all your
3:59Instagram posts of you with Flippy for
4:00the first time and it was it was really
4:02it was really really great and I loved
4:04your feedback as well. We also invested
4:07uh pretty heavily in a dedicated
4:09investor relations team so that you get
4:11good responses from us in a timely
4:12manner. Uh as Jeremy mentioned you can
4:14do those by email, you can do it by
4:16phone and so all of that communication
4:18is really important to us. So, um I also
4:22want to take a minute and uh welcome new
4:26investors and potential investors who
4:28learned about MISO on Republic.com.
4:32So, as you know, we
4:35uh are a company that uh has
4:39given re regular retail investors like
4:42you the opportunity to participate in a
4:44preo company. and we're doing a little
4:48experiment to see uh how it works to
4:52offer this on a new platform um in
4:55addition to our current investment miso
4:57robotics.com page which is Republic. And
4:59so we really like those guys. They've
5:01been um very gracious to uh to to bring
5:04us on board. And so for those investors
5:07who found out about this webinar through
5:09that, we we welcome you and you can
5:11still get bonus shares and all of the
5:12things just like anybody else. Um, I
5:15also want to uh give a little nod to um
5:21uh to one of our board members, I guess
5:23now former board members, Ben Sass. So,
5:27uh because Ben has been in the press a
5:29lot, he was uh he did a really amazing
5:32interview with Jake Tapper on CNN last
5:34Sunday. He was on 60 Minutes. Um, for
5:37those who are following along, Ben is a
5:40uh, he joined our board last year and he
5:42is a former US senator who most recently
5:44ran the uh, largest public university in
5:48America, the University of Florida, and
5:51uh, in December announced that he had
5:54been unexpectedly diagnosed with uh,
5:57pancreatic cancer which had spread to
5:59other parts of his body and that he only
6:01had a few months to live. And here he is
6:04uh participating in a trial and of um of
6:09a new pancreatic cancer drug and is
6:11becoming wildly successful. And so I'm
6:14just want to send our best wishes from
6:16everybody at MISO to Ben. We're we're
6:19thrilled to have someone of that caliber
6:22be interested in joining our board. Uh
6:24Ben is a curious guy who loves learning
6:26and so being on the leading edge of AI
6:28and robotics at such an important time
6:30in AI and robotics is something he was
6:32interested in. But uh I just wanted to
6:34let him know we're thinking about him
6:35and uh and all of us at MISO send our
6:37best to him and his family. Um and I do
6:40think that someone of his resume is the
6:44caliber of people that you're starting
6:45to see us be in business with. And I
6:49think that's new and exciting and it
6:50goes a lot to what I think we're
6:52building here at MISO and how other
6:54people see it. So I'll give you a quick
6:55preview of what we're going to talk
6:56about today. Uh it's kind of three
6:58parts. The first is uh for those who
7:01have um been following along with our
7:04company emails. This is, you know, July
7:06is new customer month at MISO. And so
7:08we've done a lot of announcements about
7:10new customers we have across our
7:11different product lines. So I'm going to
7:13kind of dig into that. Um, and that's
7:15important because, you know, for every
7:17new customer we get, we increase the
7:20chances of success of our land and
7:22expand strategies. So, we like to go in
7:24and install one or two flippies um or
7:27one or two zippies or whatever product
7:30it is, and then prove out the value, let
7:33people recognize that this creates an
7:36entirely new workstream, make them
7:37think, how did I live without this? And
7:39then ask for more. And so, that's the
7:41land and expand strategy. And that way
7:43we don't have to go out and bring in 25
7:45new customers. We get to prove ourselves
7:47and expand from within. So every new
7:49customer we announce really is not just
7:52one installation or two installations,
7:54but it really unlocks the opportunity
7:56for 500 or a thousand or 2,000 or
7:58however many stores they have. So I
7:59think that's why we wanted to spend some
8:01time this month focusing on new
8:03customers. The second thing I'm going to
8:04talk about is our product portfolio and
8:06specifically some upgrades that we've
8:09been making that are really leading edge
8:11and fantastic for Flippy as well as the
8:15evolution um from the Zignal product
8:18that we acquired in January of this year
8:21into uh the combination with our Zippy
8:25product um which essentially does the
8:26same thing um just on a more expanded
8:28basis. And so I'll talk a little bit
8:30about where we are with that because
8:31we're making some great progress there.
8:32And then the third is there's been a lot
8:35of action in the kind IPO market,
8:37capital markets. It's I think very
8:40important that we all pay attention to
8:42that. We pay attention to it a lot here
8:44at Miso. So I want to share some of our
8:47perspective on that with you. and um and
8:50and and if you remember the you know if
8:52you think about why that's important,
8:54MISA was started 10 years ago and so it
8:58was part of that first wave of
8:59restaurant innovation and then now we're
9:03in the second wave of innovation and
9:05there's not many survivors from the
9:06first wave beyond Miso but we have new
9:08competitors and it's great it validates
9:10the opportunity and so I was brought
9:13here to really grow the business during
9:15that second wave of innovation so I've
9:17only been here about three years And
9:18when I came here, I had a three-part
9:20plan that I wanted to execute when I
9:23came. So the first was to reset the
9:26business by injecting a bunch of
9:28operating best practices and discipline
9:30into it. And that's pretty typical of
9:32most technology companies that were
9:34started by young founders that, you
9:36know, from Google on down. So Google
9:38brought in Eric Schmidt. Uh he had a lot
9:41of business experience, obviously grew
9:43that into what it is today. And so in
9:45some respects that's sort of the the
9:47reason I was brought here by our
9:49partners at EcoAB and our board and uh
9:52and our shareholders. And with that you
9:54saw things like uh you know really
9:56massive cost reduction of about 60% of
10:00our monthly operating costs. Um some
10:04headcount corrections um because I think
10:06we can be more efficient in our in our
10:07hiring. Some product portfolio
10:09discipline. So um so that we're focusing
10:13on the things that matter, the products
10:14that matter and then we can earn the
10:16right to do other things in success of
10:18those. I think uh shedding customers
10:21that were sort of stuck in these
10:23perpetual pilots that were not going
10:25anywhere. Uh that's not a good place to
10:28be. And I think it's it's it's a hard
10:30decision to make. But I think with
10:31experience uh comes that discipline of
10:34of picking your customer just as much as
10:36your customer picks you, especially at
10:38our stage. um adding the frequent
10:41communications that we talked about
10:42earlier which are really important to
10:44me. Um doing things like more readily
10:47admitting when we make mistakes and then
10:49being very vocal about how we course
10:51correct on those. So I think just adding
10:53a whole bunch of discipline into the
10:55business. Uh that was kind of step one
10:58and and also part of that is adding the
11:00deployment layer that we've talked about
11:02in past webinars where we can now deploy
11:06our products into the market, support
11:07them through uh virtual support uh with
11:12trained technicians uh support them in
11:14the field with trained technicians and
11:16you know not create that mistake that a
11:19bunch of young companies often create
11:21where they scale too fast but they can't
11:24support the product at scale. and the
11:26whole thing kind of implodes on itself.
11:27So I think we brought in a lot of
11:28discipline there and um and even in
11:30doing that you know we brought
11:33a lot of that back to the US uh
11:35including our manufacturing for our
11:37flippy product. So uh and that's pretty
11:39on theme for what you're seeing in the
11:41world right now. There's been a lot of
11:42efforts in the US to reshore a lot of
11:44those industrial jobs. We're
11:46participating in that. Uh we're in a bit
11:48of a race with China on AI and robotics
11:51and in some areas they're outperforming
11:53us. So part of our goal here at MISO is
11:55to, you know, have America win in that
11:58AI and robotics race because that's
12:00probably what the future's going to look
12:01like for the next 20, 30, 40 years. So
12:03if you are uh supportive of that, that's
12:06yet another re reason to invest in MIS.
12:08So the first step was to reset the
12:09business. The second is to um just have
12:12a maniacal focus um on the tech where we
12:16sit at the collision of hardware and
12:17software so that we can build the
12:20operating system for a modern restaurant
12:21and hospitality operation because that's
12:24really the world we're going into. Um
12:26and you've seen some of that, right? So
12:28we built the third generation of Flippy.
12:31If you've been through this process
12:33before of disruptive technology, you
12:34know that the first two generations of
12:36anything are always messy, but you got
12:37to go through them. and that the third
12:39generation is kind of where it all
12:41starts to come together. And it really
12:44gives the users and the customers what
12:46they want and need. And so we needed to
12:48build that third generation of Flippy
12:51from the second generation that I
12:52inherited. And we did that and that's
12:54the one that we're currently deploying.
12:56And uh we're really happy with that
12:58progress. We also acquired Signal um at
13:01the same time that we were building our
13:03uh our Zippy product and they were doing
13:05essentially the same thing. And so we
13:06combined those two. I'll tell you a
13:07little bit about that. We acquired the
13:09IP of Zoom pizza which gives us a really
13:11strong base of patents that helps
13:13protect our and grow our mo. So we did a
13:16lot of that technology work and that was
13:18really the second step. And then the
13:19third step is to focus on the exit. So
13:23does that mean going public? Does that
13:25mean a strategic acquisition? U does
13:28that mean something else? And so we
13:30spent a lot of time looking at that. And
13:33now that the IPO markets are starting to
13:35unlock again for the first time in
13:37really four or five years, I think the
13:41introduction of SpaceX into the public
13:42markets, especially with their focus on
13:44retail investors, was really powerful.
13:47Was a real kind of reset moment for the
13:50public markets. You've seen people like
13:52OpenAI and Enthropic confidentially
13:54filed their S1s to go public. You're
13:56seeing a lot more action in that space.
13:58And so therefore the timing is great for
14:00us for us to kind of start to execute on
14:03the third step of my plan which is to
14:06you know create that exit or take it
14:07public or whatever those options turn
14:09out to be. So we'll talk a little bit
14:10about that and and for those who
14:12remember uh when I came here uh I had
14:15come off of a a good exit. I um I put my
14:19own capital into the company. That's
14:20really important to me. Uh, and so I'm
14:24riding right alongside all of our other
14:25shareholders in the sense that if the
14:27company's successful, my investment will
14:29be successful just like yours is. So I
14:31did that because I wanted to align the
14:32interests of our of our shareholders
14:34with all the things that we do at MISO
14:36and and for me personally. So with that,
14:39let me jump into kind of those three
14:40parts that I I previewed. So the first
14:42is uh July is our new customer month.
14:44So, let's just for those who haven't
14:47seen it, I'll kind of recap uh the uh
14:50one of the announcements we made in our
14:53restaurant vertical for Flippy. So, I'm
14:54going to kind of go Flippy first and
14:56then Zippy second. So, in our restaurant
14:58vertical, that's a restaurant focused
15:00strategy primarily focused on quicks
15:02serve restaurants. We announced a couple
15:04weeks ago that we had installed in our
15:07eighth state, I believe, and it's the
15:10state of Montana. It's a brand called
15:12Zesty Eats. We're thrilled to welcome
15:14them and uh they are a quickserve
15:18restaurant and we're really excited to
15:21be their partner and so we're looking
15:23forward to lots of success there. We
15:26also have this hospitality strategy
15:28which you've heard us talk about a
15:30little bit. Um and as an example uh we
15:35announced
15:36a month or two ago that we had gone into
15:38our first NBA arena with Flippy. And
15:42while some of that use case is the same
15:45as it is in a restaurant, there's other
15:47parts of it that are not. Because if you
15:49think about an NBA arena, everybody
15:52wants to eat at halftime. So you've got
15:54like a 90minute window. Whereas in a
15:56restaurant that's spread out a whole
15:58across a bunch of different day parts.
15:59And so we need to teach the robot how to
16:02do that. We need to get smarter about
16:04it. It's was a bit of an experiment, but
16:06I'm really thrilled to report that it is
16:09going really well. We really like it.
16:11We'll have some more information about
16:13it as we um are ready to announce that
16:16and as our partner there is ready to
16:17announce it and but we've learned an
16:20extraordinary amount. I believe we
16:21brought them tons of value. We've been
16:23able to demonstrate that by showing them
16:25ROI dashboards and uh both new revenue
16:28and um and new profitability and cost
16:31savings and so forth that uh that they
16:34seem to be thrilled about. So that's a
16:36really great first step into our
16:38hospitality vertical. There's a second
16:40step which is brand new information. We
16:42haven't announced it yet, so I'm going
16:44to announce it here today just for you,
16:46which is that we have just installed in
16:49our first university in the allimportant
16:53Cal State University system. And so, as
16:56you know, the state of California has a
16:59$20 an hour minimum wage in restaurants.
17:02It seems like that is even going to get
17:04increased either this year or next. And
17:07so it's caused a lot of disruption uh in
17:10a labor market that was already pretty
17:12disrupted due to labor shortages. Now
17:15we've injected labor costs into that.
17:16And so restaurants are really struggling
17:18in the state of California. And so to be
17:21in partnership with our first university
17:24there um as a leadin to uh hopefully a
17:28lot more of the Cal State universities
17:30is a significant milestone and we get to
17:33take a lot of those learnings from our
17:36NBA arena experience with Flippy and
17:38apply those into uh this type of food
17:42service setting because if you think
17:45about it, classes get out at the same
17:47time and so they get very similar
17:48rushes. that are really high peaks and
17:51valleys. And so we get to take a lot of
17:53those learnings and uh and and put those
17:55into practice in this vertical. We also
17:59um uh it also demonstrates sort of our
18:03sales prowess, I think, because like
18:05this hospitality vertical around food
18:07service at universities and stadiums and
18:09so forth means that we're contracting
18:11with a different type of customer. So we
18:12really have to have a great story and a
18:15great set of tools. And I think you're
18:17seeing that uh with uh our sales team.
18:20Bruce Friedman who leads that is just
18:22doing a great job and we're thrilled
18:23with that. And then another thing that's
18:26really interesting about the Cal State
18:28installation is that we also get to
18:31couple a student training program with
18:32it and that makes us really happy. We
18:34like to bring more value than just the
18:36dollars and cents with our products. Um,
18:39we do types different types of kind of
18:42community service and community events.
18:45And this is one of those things where we
18:46feel like we're giving back to future
18:48gener generations by within the
18:50university setting, partnering with the
18:52university to do a Flippy training
18:54program, which means that those students
18:56will be uh flippy certified. Um, and uh,
19:00and we have a clever name for that that
19:02we'll announce in the uh, next month or
19:04two. But it's uh, uh, I think really
19:08exciting for them to get some real world
19:11AI and robotics experience so that when
19:13they get out into the real world,
19:14they'll be two steps ahead ahead of
19:16everybody else. And we're thrilled to
19:17participate in that. I also wanted to I
19:20I get asked a lot on these webinars
19:22about what's your sales pipeline look
19:24like? And I I always try to thread this
19:28very specific needle of giving enough
19:31information so that our shareholders
19:34feel confident in that, but also not so
19:36much information that our competitors
19:38who we know listen to these calls um you
19:41know are going to go and try to steal
19:42our customers. So what I thought I would
19:44do today is just give you a kind of a a
19:46bit of a generic description of some of
19:49the flippy customers that are in our
19:52sales pipeline. uh either as you know
19:54their first or second installation, an
19:57expanded installation if they're
19:58currently a customer or a pilot. And so
20:03um one of those is an operator of a
20:06major national burger brand with over a
20:08thousand locations. Another one is an
20:12operator of another major national
20:14burger brand with over 700 locations.
20:17Another one is an expansion location at
20:20an existing customer. Um, another is an
20:24expansion location at a different
20:27existing customer. Each one of those
20:29representing one in our restaurant
20:31strategy and one in our hospitality
20:33strategy. An innovation center for a
20:36global giant multibrand uh owner that
20:41will focus specifically on one of their
20:43large brands that has over 3,000
20:44locations. a large theme park operator
20:48with multiple locations, an operator of
20:51a major national wings brand with over
20:533,000 locations, an operator of a high
20:56growth national, very frierheavy brand
20:59with over 50 locations. So, obviously,
21:02as most people know, there's
21:04franchiseors and franchises. So, I'm
21:06giving you kind of the count of like the
21:08franchiseor brands um and what their
21:10footprint is. And so we are really
21:13thrilled with what that sales pipeline
21:16looks like both near-term, midterm, and
21:18even long-term. So some of our accounts,
21:20especially on the bigger enterprise
21:21side, have very long sell-in cycles,
21:24whereas other ones that are on the, you
21:26know, smaller footprint side, it just
21:28may take one or two or three people to
21:29make that decision. And that can happen
21:31a lot faster. So we we really like our
21:33sales pipeline. Um what I provided was
21:36what I would describe as, you know, our
21:37near and midterm um highlights. There's
21:40a lot more behind that. We, you know, we
21:43have a lot of conversations. Uh we have
21:45a lot of people that we're working
21:46through the pipeline. We're getting
21:47better and better at that. But I just
21:49wanted to provide a little bit of
21:50visibility on that. So that's kind of a
21:52recap of Flippy from the new customer
21:54side on uh Zippy. Um I will jump into
21:57that too, which is if you recall, we
22:00acquired Zignal. We decided we would
22:01combine that with our with our you know
22:03very early stage um Zippy product. The
22:06Zippy name will live on. Uh we love that
22:11product. It is a uh you know if Flippy
22:14is the you know uh takes over the fry
22:17station and cooks anything a human can
22:18cook at the fry station. Uh he just does
22:20it faster and he's more reliable. The uh
22:24Zippy product extends the power of
22:27Flippy's AI and into the restaurant
22:30operator's hands. And so it's
22:32essentially like a restaurant operations
22:34system, but it focuses on the restaurant
22:37revenue generation aspect of that
22:39because that's a real white space in the
22:40market. And so we do things. So So think
22:43of that as an app. You go to the app
22:45store, you download it, you uh pay a
22:47subscription for it. As a restaurant
22:49operator, you um get can do everything
22:52from seeing all your metrics in one
22:54place around real-time sales, real-time
22:57profitability, real-time trends. uh you
23:00can do all your labor scheduling, your
23:02messaging, your tasks uh for the
23:04franchiseor, the corporate brands. It
23:06ensures brand standards for the
23:08franchises. It drives their
23:10profitability. We also have different
23:12features within that product that will
23:15say to a frontline customer, here's your
23:16sales goal for the the day and if you
23:19hit it, everybody on shift gets an extra
23:20dollar an hour. If you hit two exit, you
23:22get $2 an hour. So, it's a really
23:24tangible way to align incentives across
23:27the frontline users, the general
23:28managers, and the owners. It's a simple
23:31to understand product. We really like
23:32it. Um, we announced uh earlier this
23:36month as part of new customer month uh
23:38that we were welcoming Auntie Ans uh
23:41Witch Witch, which is a sandwich chain,
23:43Sabarro, which is a great, you know,
23:45pizza chain often in the malls and
23:47airports, uh, which sort of aligns with
23:49something with our acquisition of the
23:51Zoom IP, which we'll talk about in a
23:53minute. We we really like the high
23:55margin on um on the the Zippy product
23:58and you know Zignal as it exists to
24:01today and Zippy will be the long-term
24:03name going forward but like that's a
24:04typical software margin um and that
24:07tends to be a very high margin product
24:09and we like that. It's also a great way
24:11for us to cross-ell. So, it's pretty
24:13easy for an operator to install an app
24:15and pay a couple hundred bucks a month
24:18and try it out. And then if they like
24:20that and it creates a lot of value, then
24:24often they're like, well, you got
24:25anything for my fry station? And so, it
24:27really provides a lot of cross-selling
24:28opportunity. So, on that product, as we
24:31combine Zignal and Zippy and kind of
24:33created greatest hits, we will start
24:35beta testing with some new users in the
24:41coming weeks. So basically in the month
24:42of August some of the new features that
24:44we've already built that uh would be
24:47additive to uh to Zignal. So we've we've
24:50migrated everything on Zignal from
24:52Microsoft Azure to AWS which is probably
24:55a you know more relevant kind of
24:57cloud-based infrastructure for this type
24:58of product. We've uh evolved sort of the
25:02codebase to modernize some of it uh from
25:05a coding language called net which is
25:06getting a little long in the tooth to
25:08Python that's a little bit more robust
25:09and better for AI and so we've started
25:11then building those feature sets out uh
25:14obviously we'll add the the you know
25:16typical zignal features to those two um
25:19and uh and so the new features start
25:22getting tested next month we're really
25:24excited about that um and then I have
25:26one announcement today on that just with
25:28the theme of new customer month of July,
25:30which is that uh I wanted to welcome a
25:34brand new customer, which is Renegade
25:36Burritos. So, if anybody is in Colorado,
25:39it's a Colorado-based brand and we're
25:41really excited to have them. So, welcome
25:43to those guys. Okay, so that's kind of a
25:44recap of uh you know, new customer
25:46month. I could talk far more about this,
25:48but you know, I know we're limited on
25:50time. The second topic I wanted to cover
25:52today is the evolution of the flippy
25:55product. So, we get asked about this a
25:57lot and so I wanted to kind of highlight
26:01three things that we've done recently
26:03that I think are really moving the
26:05needle with Flippy's reliability and
26:07performance which obviously then
26:10directly leads to our ability to sell
26:12more. We need to be able to have
26:15prospective customers get on the phone
26:17with current customers and say, "Flippy
26:18changed my life." And so by making a
26:23product that is more durable, more
26:25reliable, uh achieves higher
26:28performance, we give ourselves the
26:30ability to do that. And so the first
26:32thing I wanted to highlight is what we
26:33call adaptive pick and place. It's
26:35basically a vision improvement. So, if
26:37you think about Flippy, like he moves in
26:41this uh you know, he's kind of got
26:43encased in this sort of box, if you
26:45will, and that's largely done for safety
26:47and speed because he can move really
26:49fast when he's in that contained
26:51environment. But within that
26:53environment, it's a pretty tight space.
26:54So, typically what he would do in the
26:56past is he would have to be very finely
26:58tuned and if anything was out of place
26:59in that environment, it would cause
27:01challenges for him. Now, what we're
27:03doing is we're improving the vision
27:05using all kinds of new products and
27:07technology and AI that wasn't even
27:09available to us a couple years ago. And
27:11we call that adaptive pick and place,
27:12which means that the robot can adapt to
27:15different circumstances within its
27:18environment. And so, previously that
27:20could trip it up. Now, we're working to
27:22make sure that it doesn't. So, um, one
27:25of the things that we've done is we've
27:26added new 4K cameras so that he has, you
27:29know, kind of better clarity and better
27:30vision to adapt to those changes. Uh, we
27:33see now better, uh, handling of
27:36different food product variations,
27:38meaning Flippy looks at a product when
27:40you put it into our Autobasket feature
27:43and, uh, immediately knows what it is.
27:46And if he doesn't, he'll ask the user,
27:48but most of the time he does. And so
27:51then he immediately integrates it into
27:53the cook cycle and does whatever the
27:56user needs it you know to be done. Um
27:58and so uh by improving the reliability
28:01of that flu food classification through
28:03vision we just make fit flippy operate
28:06way better. And um uh we have another
28:10vision step too that I'll talk about in
28:11a future webinar that's uh a really
28:14massive leap forward that uh that we'll
28:17be integrating and announcing in the in
28:20the coming months. But we really like
28:22the direction that we're going on
28:23vision. It's really improving things. As
28:26you know, these robots just have to
28:28work. And I think that you know, one of
28:31the areas that we see that be really
28:34true is in the area of humanoids.
28:36Flippy's not a humanoid. He's a very
28:37specialized robot. But, you know, when
28:40you see humanoids out there on Instagram
28:42doing back flips, what they often forget
28:45is to that when you pull back the
28:47camera, there's sometimes people
28:48teleaoperating them or they're training
28:51on one very specific thing. And so
28:53there's a lot of things that have to go
28:55right with humanoids before a humanoid
28:57is going to be in your home or your
28:59workplace or your kitchen, maybe
29:02anywhere short of a warehouse where
29:03there's kind of not many humans around.
29:06It's a lot of things have to happen
29:08including the laws that have to catch
29:09up. So, you know, we can debate whether
29:11that's eight years or 10 years or 12
29:13years or, you know, I heard somebody
29:14talk about 20 years, but um but vision
29:17is one of those things that just allows
29:19us to react uh way faster and improve
29:22the product because it just has to work,
29:24right? People are building their
29:25business around that. We recognize that
29:26and um and we're thrilled with the
29:29operation of Flippy. Um right now, you
29:32know, we're seeing 99% uptime across our
29:35fleet and it's just it's, you know,
29:37customers are really enjoying it. So,
29:39um, but sometimes there's challenges,
29:41too. We, you know, we made this
29:42installation, um, a recent installation
29:46that, uh, where the lighting was
29:48different in their physical location
29:51than it was in our robot lab when we did
29:54a little bit of pre-work to train Flippy
29:55on that food classification. And so when
29:59Flippy was delivered and installed um
30:02overnight in that location, he struggled
30:05a little bit in the first couple days
30:07because the lighting was different. He
30:09kind of couldn't figure out what was
30:10what. And so we had to come in and very
30:12quickly react to that. And we did and I
30:14think the customer was happy and we're
30:15happy. And so you're always going to
30:16have challenges when you're on the
30:17leading edge of AI and robotics. And uh
30:21but that was a great lesson for us. Now
30:22we learned how to do that. We learned
30:23how to create new environments within
30:25our labs. So that if we're pre-training
30:26Flippy a little bit on some of those
30:28food item classifications, we know how
30:30to do it better. The second thing I
30:32wanted to highlight in Flippy's
30:33improvements is what we call predicted
30:35cooking. And so we launched a pilot
30:38around this with our partners at White
30:41Castle in one location a few months ago.
30:44And so what we're doing is we're using
30:45modern AI to leverage historical data
30:49and all kinds of changing variables such
30:51as, you know, weather, local events, uh,
30:54and we created an AI model that
30:57synthesizes all that, predicts when an
31:01order is going to be needed and then
31:03lets Flippy take action to just cook
31:06that without any human interaction or
31:08decision-m at all. that allows the
31:10humans to focus on the things that
31:12really matter like customer interaction
31:14or upsells at the counter or quality or
31:17any of those things that even when they
31:20had to push a button or wait for the
31:22point of sales system to register that
31:24sale, they were getting put a little bit
31:26behind. So now we're increasing the
31:27speed of service by doing this and
31:29Flippy's getting better and better and
31:31better at that. And so we're seeing a,
31:33you know, at this point we're seeing a
31:34majority of like the French fry orders
31:37being cooked by Flippy without a human
31:39even having to take that. And it that AI
31:42model that we created creates a lot of
31:44accuracy. And there's a lot of
31:45fine-tuning and optimization that goes
31:46with that. But we really love that. It
31:49is a gamechanging feature of Flippy that
31:52really drives massive, massive
31:54improvements in speed of service. And I
31:55read a stat um not too long ago that for
31:58every 6 seconds you can improve speed of
32:02service on an order in a quickserve
32:04restaurant, it translates into about a
32:061% revenue bump for the annual sales of
32:09that location. So these are really
32:12tangible massive changes that we're
32:14making. The third uh change we're making
32:17to Flippy is that we've really massively
32:19increase the amount of fried items that
32:21uh that Flippy can cook. So, we are
32:24almost up to a hundred. And in fact,
32:27we're thinking about having a contest to
32:29let everybody chime in to see if they
32:32can define what the hundth item should
32:34be that Flippy learns to cook. I I grew
32:36up in Texas, so I when I was a kid, I'd
32:39go to the state fair of Texas and they
32:40would cook fried bacon and fried Oreos
32:42and fried Coca-Cola and all these crazy
32:44things. And so, uh so maybe we'll have a
32:47contest to let everybody do that. We
32:48think that would be fun. But all in all,
32:50these three really massive improvements
32:53are just three of the hundreds that
32:56we're constantly making to improve these
32:58robots and uh and to serve our customers
33:01better. And you're seeing that our
33:02robots are becoming smarter and smarter
33:04every month. And that's really because
33:06they're operating in real restaurants,
33:08serving real customers, you know, with
33:11uh with with real world stakes. meaning
33:15like if they're not operating, the
33:17restaurant has challenges and I think
33:19that's allowing us to move a lot faster
33:21than our competitors, many of whom are
33:23still kind of stuck in the lab with
33:26their, you know, frying robot and so I
33:28think MISO really leads the pack in
33:30that. Okay, the third thing I want to
33:32talk about, uh, we talked about new
33:34customers for the new customer month of
33:36July. We talked about some of the
33:37improvements in our Flippy PriceStation
33:40robot. Um, I want to talk about our um,
33:43well, I guess I I I'll talk about our
33:45Zoom product uh, our patent portfolio as
33:48well because I think um, I see a lot of
33:50people in the chat bar asking about
33:52that. So, I don't want to forget that.
33:54Um, so remember we acquired last month
33:57the IP of Zoom Pizza. Zoom Pizza was one
34:00of the first movers in um, in the food
34:03innovation space in that first wave.
34:05They raised over $400 million.
34:08They uh built a ton of amazing
34:10technology over almost 10 years. They
34:13were solving the same problems we're
34:14solving today. They, you know, did all
34:17that at a valuation north of $2 billion.
34:20And they were they they they went away
34:24because not because their technology was
34:26bad, but because they were just early in
34:27the market. And you know, um and and and
34:30I always draw the distinction between
34:32the first wave and the second wave by
34:34saying, you know, do you want to be Palm
34:36Pilot or you want to be iPad? you want
34:37to be MySpace or you want to be Facebook
34:39because it's usually the second wave
34:41people that come in and commercialize
34:43the innovation that was created in the
34:44first wave and so we get the opportunity
34:46to do that. So how does that help us? We
34:48can uh leverage that technology to build
34:51new products. Pizza is an obvious place.
34:54uh we can add new features to Flippy or
34:56our other products much quicker and then
34:59we can also drive new licensing revenue
35:02which would not be something we would do
35:03this year but you know next year we're
35:05developing a game plan for how we might
35:07do that and for those who don't know
35:10Zoom Pizza was a company that uh
35:13basically the concept is you order a
35:15pizza a truck starts driving to your
35:18house a robot makes the pizza in the
35:20back of the truck and just about the
35:21time the pizza is done and coming out of
35:22the oven it's pulling up to your house
35:24and it's delivered to your front door
35:26and it's the same exact right out of the
35:28oven experience that you would get
35:30inside a pizza shop. And so that
35:33technology is fantastic. Um, when you
35:36combine that with our MISO patent
35:39portfolio, which we've spent a lot of
35:41time developing and working on, the
35:43result is unbelievable. So, I'll detail
35:46a couple of the stats for you on that.
35:48So, we now have over 300 active patents.
35:53They are pretty evenly weighted across
35:55three verticals. First is AI and
35:57robotics. Second is food delivery which
36:00can include manual delivery, autonomous
36:03delivery, drone delivery. Um and uh the
36:06third is food packaging. So all three
36:08relate to food. Um
36:11we also have over 550 non-active
36:16patents. And so what that means is that
36:19those are patents that were either
36:20abandoned or expired. And so what that
36:23tells you is that the, you know, 300
36:26plus that we're uh currently operating
36:29with today as active ones are really the
36:31best of the best. And so what happens in
36:34patents is sometimes you'll file a
36:36patent and then you'll realize, oh my
36:37gosh, I've I found a better way to do
36:40it. So you'll abandon the first patent
36:41and you'll then file a second patent
36:44with the new and improved way. So you
36:46get a higher quality patent. Similarly,
36:48um you might abandon things where you're
36:50like, "Oh, I thought this was going to
36:51be a game-changing innovation, but it
36:52turns out it's not. So let's not keep
36:54investing in progressing that patent."
36:56So it really means that for me when I
36:59look at that, I believe that that means
37:01you get a much higher quality. And you
37:03know, the world is sort of divided I
37:05think into companies that have less than
37:0850 patents and more than 50 patents.
37:10We're at 300 plus. It is a massive
37:12asset. I think it derisk the investment
37:15for investors. That's the way I look at
37:17it as a shareholder. I think it can
37:18drive some other revenue. I think it has
37:20a lot of uses. It allows us to be a
37:22little bit of a of a, you know, sort of
37:25800 pound gorilla in coming in and
37:27trying to drive some licensing revenue
37:29because sometimes it's if you only got
37:30one or two patents, it's easy for people
37:32to kind of like um you know, sort of
37:35redesign their product to avoid that
37:36patent. Whereas if you've got hundreds,
37:39you know, it really it becomes very hard
37:41to do. So, I think it's the largest AI
37:44and robotics patent portfolio in the
37:46food industry. Not 100% sure, but it's
37:48we haven't found anybody bigger. Um,
37:51uh, almost 80% of the patents are
37:53utility patents. About 20% are design
37:56patents. Utility patents tend to be, um,
37:59uh, a little bit stronger. Um, it covers
38:0315 different countries and regions, so
38:05it gives us global defensibility in our
38:07IP. Um, and, uh, and we're really
38:10thrilled with it. So, we're still
38:11digging through mountains and mountains
38:13of paperwork and software code to figure
38:15out what we've got and um Basher on our
38:17team is leading a great effort to do
38:19that and so we'll have more to talk
38:21about on that but it's we're thrilled
38:24with where that is. Um all right and
38:26then the last part is uh IPO and capital
38:28markets. So we're seeing in a
38:30significantly improved environment in
38:32the capital markets for robotics
38:34companies. Uh if you look at robotics
38:37fundraising,
38:39there was almost $19 billion invested in
38:42robotics during the first six months of
38:442026. That is the highest first half
38:48funding period on record. The uh I think
38:52it really demonstrates continued
38:54institutional confidence in in
38:56automation and everybody's recognition
38:57that this is what the future looks like.
39:00And obviously AI and robotics, you know,
39:02really remain sort of the cornerstone,
39:03the strongest investment category within
39:06that sort of automation vertical. Uh
39:08I'll call out a couple that I think are
39:10interesting in our space. Um because we
39:12look at these all the time and one is uh
39:14Wonder, which is uh Mark Lor's company
39:18who is a kind of serial entrepreneur,
39:20created several e-commerce companies and
39:21is kind of creating this vertically
39:23integrated e-commerce business for food.
39:25and they just announced in the last week
39:28or two that they raised $650 million at
39:30a $9 billion valuation and that they
39:33plan to take that company public. We
39:35think that's a great sign for us when we
39:38look at what are the prospects for uh a
39:42you know food related AI and robotics
39:44company to go into the public markets.
39:46We think that that's a really really
39:47great thing for us. And um uh Mark was
39:51on CNBC a week or two ago and he too was
39:54even talking about that humanoid thing
39:56where you know his thinking is that
39:58humanoids are not going to be part of
39:59your home life or your work life for 20
40:01years and uh and so we we we debate that
40:04all the time. I think what we also saw
40:07in the um in the the capital markets
40:10around um robotics is sort of a rerating
40:14of valuations. So if you look at kind of
40:16the median valuations for sort of later
40:19stage, you know, AI and robotics
40:21companies, it's up to almost $500
40:24million as a median, which is about 3x
40:28what it was versus the full year of last
40:31year. So we like that direction, see
40:33those valuations going up, see more of
40:35these types of companies, you know,
40:36looking talking about going public. It's
40:38it's a long process to get public. You
40:40obviously want to make sure that you are
40:42ready for that. You've got the
40:42fundamentals to support it. You don't
40:44want to go public and then have that
40:46added burden of being public and have
40:47the whole thing crater. So you got to
40:49hit your timing right. But like these
40:51are the types of signals that we look
40:52for in the market. We also see a lot of
40:54exits that are really ramping up. There
40:56were 14 exits in the second quarter this
40:59year around private equity and and the
41:02M&A universe. we see more M&A activity,
41:05more liquidity events, just a general
41:08improving market in the public space for
41:11AI and robots and um and so we we like
41:14that and so we'll we'll talk more about
41:17that, but those are the things we we
41:19look at. Also, I think another one
41:20that's that's really interesting is
41:22Agility Robotics.
41:24They um they are going public in a spa.
41:28So for those who follow this, the spaxs
41:30were sort of a, you know, kind of a a
41:32new path to going public. Came around
41:35several years ago. It was a little messy
41:37at first. That has kind of washed out
41:39now. And so now you're seeing a lot of
41:40more high quality spaxs than were there
41:42previously. And some of the economic
41:44terms have adjusted to be much more in
41:46the shareholders favor. And so um, City
41:50Bank is taking Agility Robotics public.
41:53They're basically warehouse robots. And
41:56that's a $2 half billion dollar
41:57transaction. And that too I think
41:59signals this like opening of the public
42:02markets for robotic companies. So we're
42:04we're looking at that you know very
42:05carefully. The the key message here is
42:07that the you know market is increasingly
42:11validating what we've believed for years
42:14which is essentially that robotics is
42:16becoming the foundational infrastructure
42:18of multiple industries and in our case
42:21you know a a food vertical. So
42:24anyway, I know I've talked a bunch, but
42:26hopefully uh maybe I've even I it seems
42:29like I may have pre-answered some of the
42:30questions as I'm kind of halfway looking
42:32at the uh the chat window. Jeremy's
42:35mining it far more closely than I am.
42:37But the um but these are some of the
42:39things that we we talk about. I know
42:41it's a lot of data, but it's I think
42:43important for me that we share it. And
42:45uh and so with that, I will turn it back
42:48over to you, Jeremy. And you know, let's
42:50spend the last 20 minutes or so doing
42:53investor Q&A and talking about any
42:56topics you think that we uh didn't cover
42:58here.
43:00>> Sounds great. I think you covered
43:01absolutely all of them, Rich. Well done.
43:04You have a knack for covering a lot of
43:06ground in a short time. Um, no, we've
43:08got a lot of engagement in the in the
43:10chat box and I want to get to some of
43:12the topics in aggregate. I I want to get
43:15to some specific questions that people
43:17are are inquiring. Um, but I think it'll
43:20be helpful for those who may be new to a
43:23crowdfunding raise. And I'll remind you,
43:24we're in an open crowdfunding raise. You
43:27can find out more at
43:28invest.misrootics.com.
43:30You can certainly email our team at
43:32invest miso robotics.com. Other contact
43:35information including a calendar link is
43:39available on invest.mmisrootics.com.
43:42Um, but talk about the fundamental
43:44differences I guess and Miso is not a
43:46publicly traded company. we are inviting
43:49people to buy stock in a private
43:51company. Maybe you can talk about the
43:52fundamental differences a little bit
43:54between this opportunity and a a public
43:58company.
44:00>> It's a great question. You know, there's
44:02definitely a difference between a
44:03pre-IPO company and a post IPO company.
44:05So, post IPO companies are we'll just
44:07use SpaceX. That's an easy example,
44:09right? Um stock price can go up or down.
44:12It's traded daily on the public markets.
44:13you have instant liquidity
44:16and you can make some money there,
44:17right? You can make 10% 20%, sometimes
44:21more, right? Sometimes less. Goes up and
44:23down. the um but but typically the
44:28reason crowdfunding even came into
44:31existence you know about 15 years ago
44:35was that the real money gets made by
44:37investing in preIPO companies that then
44:41go public and unlock liquidity for their
44:44shareholders. They could get acquired by
44:45a strategic or there could be other
44:47outcomes. But, you know, exiting to the
44:51public market is kind of a typical way
44:53that shareholders unlock liquidity. And
44:56the people that tend to make the most in
44:57those situations are the preIPO
44:59investors. So, basically investing in a
45:01company when it's private. When you
45:03invest in that private company, your
45:04upside is probably far bigger. But
45:07there's some downside too, right? You're
45:08not able to go and trade the shares
45:10daily. So, it's a little bit of a longer
45:12path and you got to be a little bit more
45:14thoughtful about what you're getting
45:15into and you probably want to build a
45:17portfolio of handful of different
45:18investments so that you're not just
45:19relying on, you know, one to be
45:22successful. But um but but that's the
45:26opportunity like and I've been a person
45:28that has been a preIPO investor
45:32uh kind of my whole life as a as a
45:35entrepreneur and as a you know as a
45:37professional investor even in the years
45:39where I did nothing but professionally
45:41invest like I was only investing in
45:44private companies in the hopes that they
45:46go public and if they do then that is a
45:49you know tool to create gamechanging
45:52wealth. health for me and for those
45:55shareholders. And so that's really the
45:57difference between those two types of
45:58companies. Miso is a pre-IPO company.
46:01And so I think investors need to believe
46:04that they like the management team. They
46:07like the vertical. Uh they believe that
46:10AI and robots is really the the future.
46:13They like what we talked about earlier
46:15around reshoring and reindustrializing
46:19the US so that foreign countries like
46:22China don't do it first. And so all of
46:24those are things that you, you know, if
46:26you are liking what we're doing, those
46:30are reasons that you might want to
46:31consider investing in this so that you
46:35too can be like me, I guess, and uh and
46:38and and and look forward to the
46:41opportunity to create, you know,
46:45many multiples of returns on what I have
46:48invested in Nisso or that a shareholder
46:50would have invested in me. So that
46:51that's really the difference. I mean,
46:52that's kind of how I think about preIPO
46:54investing. I I you know, you're seeing
46:56retail capital like, you know, investing
46:59in preIPO companies. It's having its
47:01moment for sure. I mean, MISO was, you
47:04know, kind of an early mover in that and
47:06giving everyday investors like us the
47:09opportunity to do preipo investing. that
47:12now everybody seems to be following
47:14along including Open AI who did their um
47:18you know in their last private round
47:20they sold $3 billion to the retail
47:23markets. So it does seem like that's
47:25becoming like a real stepping stone into
47:28the public markets and you know it's the
47:30way we see it too but I think it's it's
47:32a massive opportunity for generational
47:35wealth creation and that's why people
47:36would kind of take the slightly riskier
47:38investment in a preIPO company.
47:41>> Excellent. Thanks. Um, now let's get
47:43into you. You you talked a lot about
47:45sales pipeline today, which is always
47:47one of the pertinent questions that
47:49people have. Uh, so thank you. I think
47:51you've, uh, shed some good light into
47:54what the sales pipeline looks like. Um,
47:56Carl asked on the heels of that
47:58discussion, how MISO's prepared, how is
48:00Miso prepared to meet that demand from a
48:03manufacturing standpoint? So, what are
48:04some of the steps we've done to build
48:06our manufacturing capability?
48:08>> That's a great question. So, as I
48:10mentioned earlier, we have set up shop
48:12in the US with a contract manufacturing
48:15partner based in uh California that uh
48:19is strategic because it allows us to uh
48:22be pretty close as we're bringing up
48:23that line. We brought that up last year.
48:25And then uh we're also looking at an
48:29additional partner in a different part
48:32of the country that would give us more
48:34nationwide coverage as well as uh you
48:38know a much higher volume capacity for
48:41manufacturing both in terms of speed and
48:42total volume because as we're starting
48:45to see our sales pipeline grow and speed
48:48up then obviously we have to meet that
48:50demand with you know flippies to
48:52deliver. We can't make a sale, sign the
48:55document, and then say to somebody,
48:57"Sorry, it'll be six months." We need to
48:59have flippies ready to go. That's
49:02capital intensive. And so, uh, it's a
49:05great problem to have, but it is a
49:07problem because it's capital intensive.
49:09And so that means we have to go and we
49:10have to start purchasing parts to build
49:13flippies and we have to get the timing
49:15right because we don't want to have 25
49:18flippies sitting in inventory collecting
49:20dust without sales but we don't want to
49:22have negative 25 either. And so we've
49:24got to really sort of build that
49:26perfectly. It's a balancing act and we
49:27look at it every single week and make
49:29adjustments on that. Um we have a
49:31internal team that we call our tiger
49:33team and they uh they look at that every
49:36single week to see if we need to
49:37accelerate or decelerate in terms of our
49:40manufacturing to meet the sales pipeline
49:41demand. the um the one of the
49:44interesting thing that's happening is um
49:47is when it comes to us spending money to
49:50buy those uh parts that we're uh that we
49:54need to manufacture Flippy, we are
49:56seeing an increase in the lead time due
50:00to the war in Iran and some of the other
50:03global events. And so we've got some
50:07parts that used to take, you know, seven
50:09weeks to procure in terms of their lead
50:13time and now they're taking months,
50:15sometimes five, six, seven months. And
50:18so it means we just have to be super
50:20diligent about um working with our
50:22contract manufacturers to procure parts
50:25for the ones that we buy for uh for the
50:27ones that they buy. Like we've got to be
50:29really diligent about it. So we we spent
50:30a lot of time, as you know, working on
50:32that. you're one of the leaders of the
50:34Tiger team and so you uh you spend a lot
50:37of time working on that personally, but
50:39it's a great question because you don't
50:40want to go out, you're always balancing,
50:43you know, your sales pipeline with your
50:44manufacturing pipeline when it comes to
50:46a complex robot like Flippy. And so, uh,
50:49it's obviously much easier to do on the
50:51kind of Zignalzippy side because that's
50:54a software product, but um, but on the
50:57the the robotics side, we're we're
50:59always managing that. I think we're in
51:00good shape now. I I really like where we
51:02are and especially as we get closer and
51:05closer to uh hopefully unlocking our
51:08second contract manufacturing partner in
51:10a in a different part of the country
51:12then um then that'll be uh even even
51:16better in terms of getting those
51:17products out the door. So and that's
51:18part of the discipline approach that I
51:20think you know I and the kind of MISO
51:25team that's in leadership now kind of
51:26bring to the table so that you don't get
51:28surprised by things like that.
51:31Well, Rammy Ready has been a very active
51:34I can tell he does amazing diligence.
51:36He's been very active with some really
51:38really good questions and I can't get to
51:41them all, but I did want to talk about
51:43the sort of user sentiment. Um, as Miso
51:47continues adding restaurants through
51:49Zippy and Flippy, what are the biggest
51:51pain points we're hearing from the
51:53field? Um, and what's driving current
51:56adoption, you know, or or driving the
51:58the sort of more aggressive adoption in
52:01the market today versus even a year ago?
52:04>> Well, I think some of it's the market
52:06and well, I I guess that's two
52:07questions. I'll answer the second one
52:08first and I'll come back to the first.
52:09Um, so I think part of the thing that's
52:12driving adoption is the market. And so
52:14the market is more ready for a robotic
52:18fry station on Flippy than it probably
52:20was two years ago or three years ago or
52:23maybe even a year ago. And so some of
52:25that we talked about earlier, labor
52:27shortages, uh rising labor costs, um uh
52:33decreasing profit margins and uh you
52:36know rising gas prices causing a lot of
52:39turmoil uh in terms of just the cost
52:41that restaurants have. um some of the
52:45inflation issues are are you know
52:48challenging particularly lower income
52:49customers in terms of not eating out as
52:51much and so revenues are going down and
52:53so I think and you're seeing a lot of
52:56turnover in the seauite at a lot of
52:57these legacy uh restaurant brands where
53:00a 70-year-old guy is getting replaced by
53:02a 35 or 40 year old guy and the new guy
53:06grew up with technology and he's here to
53:07modernize a legacy brand and technology
53:09is very familiar for him and so you know
53:12we're seeing a lot more incoming demand
53:14just from the market. I think also um as
53:18we've gotten better and better at
53:20delivering a flippy product that's
53:23driving the type of really really
53:26excellent uptime that we're seeing today
53:28in our metrics. Word gets out, they tell
53:30their friends. It's a, you know, it's a
53:33community where people talk to each
53:34other and um and we're seeing press
53:37write about us. We're seeing people talk
53:38about us. Um, and so I think a lot of
53:41that is driving it too. The um, and that
53:44then kind of leads into customer
53:46sentiment. So we measure customer
53:48sentiment in the same way that we
53:50measure a slew of metrics as a data
53:54driven company. And when we look at
53:56Flippy,
53:58uh, it's sometimes as simple as a popup
54:00that happens on the user interface
54:02screen. So you know, you've seen Flippy,
54:04it's got essentially like an iPad
54:05looking screen on the side that the
54:07users interact with. Well, sometimes we
54:09have a user sentiment survey pop up and
54:13it's simple. It's, you know, are you
54:14frowny face or happy face today or
54:16somewhere in between and then we use
54:18that to kind of track what we're doing
54:20well, how the customers are liking us.
54:21We have a product team that interacts
54:24with customers and gets their feedback,
54:25gets their ideas, but right now we're
54:28seeing a ton of user support. They
54:30really like it. It's scary at first for
54:32sometime for some of these uh workers,
54:35especially the older ones. And uh but
54:38what happens is they very quickly
54:40realize that working with a flippy is
54:43far more enjoyable than standing over a
54:46fry station and burning yourself all day
54:48long. That's why we see about an average
54:51of 90 days before a fry station cook
54:54just bails and it's not a great job. So,
54:58if you take that off the table, it
54:59allows the humans that work there to do
55:02more human things, talk to customers and
55:04do upsells and do quality and I don't
55:06even wash dishes, but it's like
55:08>> far less dangerous, far more enjoyable
55:11things. We hear a lot of stories about
55:14increased retention. So, like employees
55:16are happier, so they're staying longer
55:18and that reduces the cost that uh that
55:21customers have to go and spend to
55:23source, onboard, train new employees.
55:26So, we're seeing a lot of happiness with
55:29our users and we measure that and look
55:31at that uh that really closely.
55:34>> I got to tell you, I was in a meeting
55:35with the seat suite from um a major
55:39franchise group like I who will remain
55:41nameless, but I mentioned that there's a
55:45whole new labor unlock with Flippy
55:47because someone who's not 18 years old
55:49can't stand at a frier. They legally
55:51can't stand at a frier in most uh most
55:54jurisdictions. And I mentioned this and
55:56you wouldn't believe how that table lit
55:58up. They're it was a it was an aha
56:00moment for them. Um
56:03>> that's because they can with a a flippy
56:05>> because they can
56:06>> because at worst they're pushing a
56:07button and you know working a a computer
56:09and the dangerous part is happening away
56:11from them. So
56:13>> in a cabinet that's um Okay, cool. I
56:16promised people that we would talk a
56:18little bit about Flippy at work today
56:20and I got to do that. But be I I I will
56:24hear about it until the next webinar if
56:26I don't hold your hands to the fire. So
56:29I know you can't circle a date, but when
56:32are we going public? That's the number
56:35one question we get asked.
56:38>> Well, I'm as anxious for it as anybody
56:40else as we talked about earlier. Um I
56:43look I don't have a crystal ball so I
56:45don't I don't have a great answer for
56:47that. Uh except to say that we are
56:50looking at it closer and closer by the
56:52day only because of those market factors
56:56that we talked about but als not not
56:58only because of the market factors we
56:59talked about but also just because you
57:01know Flippy's growth is start kind of
57:03starting to get some velocity. The Zippy
57:05Zignal product is really starting to get
57:07some velocity. Uh the Zoom pizza
57:09acquisition created a ton of weight and
57:12a whole lot of really um you know what I
57:16believe is interesting upside here. So
57:18like we're filling in the pieces on our
57:20strategy on kind of the first step and
57:22the second step and the third step is to
57:24figure out that exit and try to take it
57:26public. So we look at that all the time.
57:30Um and so uh for me the calculus is you
57:33don't want to go public too early and
57:35you surely don't want to go public too
57:36late. But now that that market is
57:38opening up, I think it's, you know,
57:41absolutely something that we spend a lot
57:43of time, you know, thinking about,
57:46looking at, learning about. As you know,
57:49we were I was invited to make some
57:52pretty significant announcements on the
57:54floor of the New York Stock Exchange.
57:56So, the stock markets are looking at who
57:59are the companies that are the upand
58:01cominging companies that we really need
58:02to get to know and let's help them get
58:05more educated about what an IPO is in
58:07the public markets. So, we announced our
58:08first entry into an NBA arena with me on
58:11the floor of the stock exchange in New
58:13York, which was the first time I'd been
58:15there. It was a really amazing
58:17experience. It's actually smaller than
58:19it looks on TV and I was sort of
58:20surprised by that, but that was a great
58:22learning experience for us. uh great
58:25opportunity to meet the people at the
58:27New York Stock Exchange. And so, you
58:28know, we're you're seeing some of those
58:31uh learnings and and and and interest on
58:34our part, you know, being put into
58:36action even on stuff like that.
58:38>> Okay. Rapid fire round. How long does it
58:40take to install a Flippy?
58:42>> Overnight.
58:43>> Overnight. I have a restaurant and I
58:45want Flippy. Who do I talk to?
58:48uh go to our website, fill out the
58:51contact me form, and uh someone from our
58:54sales team will call you.
58:55>> Great. Uh what's the maintenance like on
58:57Flippy?
58:59>> Uh pretty good. I you know, we we have
59:02prevented maintenance that comes out
59:04once a quarter and kind of services the
59:06things that might wear out like just
59:07like you would on a car. Uh we have uh
59:10for you know, kind of warranty work, we
59:12have a nationwide network of field
59:13technicians that are trained up on
59:14Flippy that can be there in a few hours.
59:17the, you know, even if Flippy were to go
59:18down, you can just pop open the doors
59:20and cook normally so you don't lose
59:22sales, but then we can always have
59:23somebody there in a few hours. And then
59:25we have 247 virtual tech support, which
59:28can fix a majority of the problems just,
59:31you know, over the phone or virtually.
59:33Sometimes our sales our support reps
59:36know that there's a problem before the
59:37user even does and fix it before they
59:39even the the user understands it. So,
59:41we're getting way better at support and
59:43um and right now we we like that
59:45direction.
59:47Okay. You mentioned that we're moving to
59:48a hundred items, so I won't ask that
59:51question, but I will ask what the
59:54wildest thing that you've ever eaten is
59:56that Flippy's cooked
59:58>> or best what's the best thing that
1:00:00Flippy's ever cooked for you?
1:00:01>> I like I know exactly what it is because
1:00:04I just had it uh in the last week or
1:00:07two. We were doing some new product
1:00:10testing with that Cal State University
1:00:12that I mentioned earlier and their
1:00:15chicken strips, which they do as
1:00:17handbredded um in some cases. There's
1:00:20other chicken products they have that
1:00:21are that are frozen. Um but they uh I
1:00:24had uh both their frozen product and
1:00:26their handbredded product and they were
1:00:28awesome. So, I'm going to say uh those
1:00:31two chicken strips that I that I had and
1:00:34I I know there's a whole bunch of other
1:00:36things there. the jalapeno poppers. Sort
1:00:38of a weird one, but it's one of my
1:00:40favorites. I think that's a really great
1:00:41one. Um, so the onion strings, which uh
1:00:46which or onion chips, which are great.
1:00:48Flippy does both. He does onion strings
1:00:49and onion chips. Uh, and we have
1:00:51customers that do each today. So, those
1:00:54are my faves.
1:00:55>> Zesty Eats is doing falafel and they're
1:00:57doing doughnut holes. That's exciting.
1:01:01Mozzarella poles are good in the
1:01:02mozzarella sticks. This is this is a
1:01:05fringe benefit of working at MISO, but
1:01:07it's also an occupational hazard. There
1:01:09there is fried food fried food tested
1:01:11here in the lab all the time. We're out
1:01:14of time, man. I I've really enjoyed
1:01:15this. I hope that all of our viewers
1:01:17have. I'll remind everyone before we
1:01:19leave that we're in an active
1:01:20crowdfunding round. You can find out
1:01:22more at invest.mmisrootics.com.
1:01:26Um you can reach out to our team at
1:01:28investics.com.
1:01:30on the website there's a calendar link
1:01:32if you want to reach out and schedule a
1:01:35call you can do that that's probably the
1:01:37best way to get someone on the phone
1:01:39there is an 800 number that experiences
1:01:41a really high volume and while
1:01:43oftentimes we can't answer that in real
1:01:45time we'll always get back to you if you
1:01:47leave a message but the calendar link is
1:01:48the best way to get in touch with us um
1:01:51that's all I've got Rich do you have
1:01:52anything to say in parting
1:01:54>> I think we've covered it and I know we
1:01:55covered a lot but uh obviously you know
1:01:58we we love our retail investors We feel
1:02:00like it's our secret weapon. We uh are
1:02:03thrilled that people choose to, you
1:02:06know, give us their hard-earned money
1:02:07and bet on us and support this mission
1:02:09and try to get rewarded in, you know,
1:02:12our success. And we don't take that
1:02:15lightly at all. I think about that every
1:02:16single day. It's really important to us.
1:02:18We show up at work and we're working
1:02:20hard and we're doing it for our
1:02:21shareholders, but we recognize the trust
1:02:23that they place in us and it's really
1:02:25important to us that we, you know,
1:02:27deliver. And hopefully you saw that in
1:02:28some of the things that we talked about
1:02:29today.
1:02:31>> Great.
1:02:32Thanks a lot. Awesome.

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